Morningstar, Inc. (MORN)

Morningstar Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash & Equivalents	503.5	502.7	337.9	376.6	483.8	422.5
Short-Term Investments	38.1	48.3	51.1	38	62.3	41.7
Cash & Short-Term Investments	541.6	551	389	414.6	546.1	464.2
Cash Growth	23.32%	41.64%	-6.17%	-24.08%	17.64%	26.31%
Accounts Receivable	384	358.1	343.9	307.9	268.9	205.1
Other Receivables	18	12.4	0.6	-	8.9	2.2
Receivables	402	370.5	344.5	307.9	277.8	207.3
Prepaid Expenses	49.3	42.1	34.9	36.7	30.6	31.7
Other Current Assets	49.4	50.5	47.3	51.6	33.1	26.8
Total Current Assets	1,042	1,014	815.7	810.8	887.6	730
Property, Plant & Equipment	390.1	400.1	371.6	391	321	302.8
Long-Term Investments	77.2	85.3	100.2	96	63.3	32.6
Goodwill	1,618	1,562	1,579	1,572	1,207	1,205
Other Intangible Assets	413.3	408.8	484.4	548.6	328.2	380.1
Long-Term Deferred Tax Assets	51.9	43.2	14.6	10.8	12.8	12.6
Long-Term Deferred Charges	28.8	26.6	29.3	35.4	31.1	18.5
Other Long-Term Assets	8.7	8.8	8.8	10.5	11.7	14.4
Total Assets	3,631	3,549	3,403	3,475	2,863	2,696
Accounts Payable	90.2	87.3	78.4	76.2	76.5	64.5
Accrued Expenses	179.5	272.2	214.4	220.1	273.7	169.2
Current Portion of Long-Term Debt	-	-	32.1	32.1	-	-
Current Portion of Leases	39.3	35.1	36.4	37.3	36.4	39.9
Current Income Taxes Payable	8	30.5	-	-	-	-
Current Unearned Revenue	594.2	540.8	517.7	455.6	377.4	306.8
Other Current Liabilities	9.8	1.4	1.8	61.2	19.5	46.1
Total Current Liabilities	921	967.3	880.8	882.5	783.5	626.5
Long-Term Debt	838.8	698.6	940.3	1,078	359.4	449.1
Long-Term Leases	155.9	170.3	151.4	176.7	135.7	137.7
Long-Term Unearned Revenue	21.9	22.4	26.3	33.5	36.4	33.5
Long-Term Deferred Tax Liabilities	29.9	27.6	35.6	62.9	101.7	108.9
Other Long-Term Liabilities	48.5	44.1	41.2	34.6	30.1	68.9
Total Liabilities	2,016	1,930	2,076	2,268	1,447	1,425
Additional Paid-In Capital	853	822.7	789	757.8	689	671.3
Retained Earnings	2,038	1,909	1,611	1,535	1,527	1,389
Treasury Stock	-1,216	-993.9	-985.5	-986.7	-764.3	-767.3
Comprehensive Income & Other	-60.7	-119.4	-86.5	-99	-35.3	-22
Total Common Equity	1,615	1,619	1,328	1,207	1,416	1,271
Shareholders' Equity	1,615	1,619	1,328	1,207	1,416	1,271
Total Liabilities & Equity	3,631	3,549	3,403	3,475	2,863	2,696
Total Debt	1,034	904	1,160	1,324	531.5	626.7
Net Cash (Debt)	-492.4	-353	-771.2	-909	14.6	-162.5
Net Cash Per Share	-11.46	-8.19	-17.98	-21.19	0.34	-3.76
Filing Date Shares Outstanding	42.18	42.84	42.73	42.48	42.96	42.9
Total Common Shares Outstanding	42.18	42.87	42.73	42.48	43.14	42.9
Working Capital	121.3	46.8	-65.1	-71.7	104.1	103.5
Book Value Per Share	38.28	37.76	31.08	28.42	32.82	29.64
Tangible Book Value	-417	-352.2	-735.4	-913.2	-119.3	-313.7
Tangible Book Value Per Share	-9.89	-8.22	-17.21	-21.50	-2.77	-7.31
Machinery	-	138.1	152.6	144.4	124.8	112.6
Construction In Progress	-	12.2	13.8	13.7	11	8.6
Leasehold Improvements	-	113.9	113.3	106.5	100.7	96

Updated Jul 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q